While Binance representatives had said they were willing to work with regulators and continue negotiations with German authorities, they confirmed today that they have decided to withdraw their application altogether.
Binance has recently withdrawn license applications in Austria, the Netherlands and Cyprus, and last month lost its partnership with European banking partner PaySafe. The exchange also faces an investigation by French authorities, which accuse Binance of “acts of aggravated money laundering.”
Outside Europe, the exchange has received restrictions from Australia on operating a derivatives exchange and ceased operations in Canada.
Binance has previously mentioned that it plans to fully comply with European Union’s Markets in Crypto Assets (MiCA) legislation, set to be implemented next year. Yet for the time being, it has had to withdraw from major countries in Europe and even outside of it.
Looks like Binance is under sanctions